Special Meeting, Spending Review, and Budget Revisions

Pursuant to Section 5.4(c) of the Parkshore Declaration, we, the undersigned unit owners, request that a special meeting of unit owners be called, with proper notice, to consider major proposed expenditures, supporting documents, the operating surplus, and revisions to the proposed 2027 budget. We support necessary repairs, responsible reserves, and protecting our property values.

Why this matters: Proposed 2027 spending includes $925,454 for pool/whirlpool and equipment; $930,000 for front membrane and entry upgrades; $544,280 for hallway, library, and play-area improvements; $100,000 in miscellaneous capital; and $15,000 for a basketball hoop. Pool-related spending could total $1,225,573 across 2026–2027, if both years concern the same project.

Proposed payroll is $2,445,123: 9% above the approved 2026 budget and 12.4% above projected spending. The projected 2026 operating surplus is $328,126.

The special meeting shall address these requests:

1. Pause uncommitted discretionary spending. Request a formal Board vote to suspend new discretionary project approvals, contracts, deposits, and work orders pending disclosure and homeowner review. Identify existing commitments. Emergency work and necessary repairs should proceed as needed, with supporting explanations.

2. Distribute documents and substantive answers before November 19, 2026. Provide scopes, itemized estimates, competing bids, comparable market analyses, contractor selection rationale, original budgets, change orders, approval dates, and full project costs across years. Explain prior exceptions to competitive bidding. Do not propose unsupported expenditures.

3. Make meaningful budget reductions. Separate essential repairs from discretionary improvements; identify reductions, deferrals, and phased alternatives. Explain payroll increases using union wage schedules, staffing hours, overtime, benefits, and the full cost and need for the added part-time doorman.

4. Explain reserve funding and consider a surplus refund. Reconcile the proposed 2% assessment increase with the reserve study. Compare refunding the $328,126 projected operating surplus according to ownership percentage with transferring it to reserves.

5. Allow review before adoption (all dates in 2026). Request that the Board use November 19 for discussion and recommendations, without an adoption vote; distribute a revised budget and explanations by December 1; and hold adoption December 9 or later, after at least seven days for review, subject to applicable notice and governing requirements. Share subsequent material revisions at least seven days before voting.

We request written acknowledgment, verification of the represented ownership, and prompt coordination of the special meeting with the notice required by the Declaration.

By signing, I confirm that I am a Parkshore unit owner, authorize the special-meeting request concerning the matters above, and support submitting these requests to the Board. My signature does not itself constitute a vote approving or rejecting the budget or any expenditure.